Apple Inc (AAPL)
Current ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 152,987,000 | 125,435,000 | 128,416,000 | 143,692,000 | 143,566,000 | 122,659,000 | 112,913,000 | 128,777,000 | 135,405,000 | 112,292,000 | 118,180,000 | 153,154,000 | 134,836,000 | 114,423,000 | 121,465,000 | 154,106,000 | 143,713,000 | 140,065,000 | 143,753,000 | 163,231,000 |
| Total current liabilities | US$ in thousands | 176,392,000 | 131,624,000 | 123,822,000 | 133,973,000 | 145,308,000 | 124,963,000 | 120,075,000 | 137,286,000 | 153,982,000 | 129,873,000 | 127,508,000 | 147,574,000 | 125,481,000 | 107,754,000 | 106,385,000 | 132,507,000 | 105,392,000 | 95,318,000 | 96,094,000 | 102,161,000 |
| Current ratio | 0.87 | 0.95 | 1.04 | 1.07 | 0.99 | 0.98 | 0.94 | 0.94 | 0.88 | 0.86 | 0.93 | 1.04 | 1.07 | 1.06 | 1.14 | 1.16 | 1.36 | 1.47 | 1.50 | 1.60 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $152,987,000K ÷ $176,392,000K
= 0.87
The current ratio of Apple Inc has exhibited fluctuations over the past few quarters. As of September 30, 2024, the current ratio stands at 0.87, indicating that the company may face challenges in meeting its short-term liabilities with its current assets alone. However, it is important to note that a current ratio below 1 does not necessarily imply financial distress, as the company may have other sources of liquidity.
Looking at the trend, the current ratio has generally been decreasing over the last few quarters since September 2023 when it was at 0.99. This downward trend may raise concerns about the company's ability to cover its short-term obligations. It is worth noting that a current ratio below 1 indicates that the company has more short-term liabilities than short-term assets, which could potentially lead to liquidity issues.
Historically, Apple Inc has maintained a current ratio above 1, which signifies a healthier financial position with the ability to cover short-term obligations comfortably. However, the current ratio has been on a declining trend since March 2023 when it peaked at 1.60.
Overall, the recent current ratio of 0.87 suggests that Apple Inc may need to monitor its liquidity position closely and consider strategies to improve its ability to meet short-term obligations with current assets.
Peer comparison
Sep 30, 2024